NuVasive Inc. (NUVA) Now Covered by Aegis

Analysts at Aegis initiated coverage on shares of NuVasive Inc. (NASDAQ:NUVA) in a note issued to investors on Wednesday. The firm set a “buy” rating and a $72.00 price target on the medical device company’s stock. Aegis’ target price would suggest a potential upside of 10.04% from the company’s current price.

A number of other research firms also recently issued reports on NUVA. Zacks Investment Research downgraded NuVasive from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $70.00 price target on shares of NuVasive in a research report on Thursday, September 1st. TheStreet downgraded NuVasive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Barclays PLC increased their price target on NuVasive from $71.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, October 10th. Finally, Jefferies Group reissued a “buy” rating and set a $72.00 price target on shares of NuVasive in a research report on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $66.83.

Shares of NuVasive (NASDAQ:NUVA) opened at 65.43 on Wednesday. The company has a market capitalization of $3.29 billion, a P/E ratio of 82.61 and a beta of 0.98. NuVasive has a 12-month low of $36.81 and a 12-month high of $69.50. The company has a 50-day moving average price of $62.89 and a 200 day moving average price of $61.83.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Tuesday, October 25th. The medical device company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The company had revenue of $239.60 million for the quarter, compared to the consensus estimate of $243.49 million. NuVasive had a return on equity of 10.89% and a net margin of 4.06%. NuVasive’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 EPS. On average, equities analysts anticipate that NuVasive will post $1.64 earnings per share for the current fiscal year.

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In related news, EVP Joan Stafslien bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were purchased at an average cost of $59.68 per share, with a total value of $298,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Ohalleran bought 4,205 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were bought at an average cost of $59.47 per share, for a total transaction of $250,071.35. The disclosure for this purchase can be found here. 4.70% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of NUVA. Strs Ohio raised its stake in NuVasive by 46.8% in the second quarter. Strs Ohio now owns 6,900 shares of the medical device company’s stock valued at $412,000 after buying an additional 2,200 shares during the period. Smith Asset Management Group LP raised its stake in NuVasive by 7,796.8% in the second quarter. Smith Asset Management Group LP now owns 2,448 shares of the medical device company’s stock valued at $146,000 after buying an additional 2,417 shares during the period. Louisiana State Employees Retirement System raised its stake in NuVasive by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 22,100 shares of the medical device company’s stock valued at $1,320,000 after buying an additional 100 shares during the period. Bank of Montreal Can bought a new stake in NuVasive during the second quarter valued at approximately $688,000. Finally, LS Investment Advisors LLC raised its stake in shares of NuVasive by 7.8% in the second quarter. LS Investment Advisors LLC now owns 2,097 shares of the medical device company’s stock valued at $125,000 after buying an additional 151 shares during the last quarter.

NuVasive Company Profile

Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.